– “Domestic sales-to-retailers (STRs) were down 2%, a slight improvement from the second quarter. Domestic sales-to-wholesalers (STWs) were down 4.7%. The STW decline was higher than the STR decline due to the timing of shipments year over year.”

– Comfortable with current level of pricing/discounting and doesn’t see barley costs impacting price in short-term thanks to contracts in-place

– There has been lots of discussion internally around trend of spirits taking sales away from big beer brands

– Early Q4 numbers tracking below Q3 but a lot of variables at play

On Tenth and Blake Beer Company:

– Up 17.2%, driven, in large part, by 24% increase in Blue Moon Brewing sales and increase in Leinenkugel’s sales